US FINANCIAL AID

The William D. Ford Federal Direct Loan Programme is a student loan programme, offered by the U.S. Federal Government. It allows American students studying in any of our eligible programmes (listed below), access to Subsidized, Unsubsidized, and Direct Plus Loans to fund their studies. Frankfurt School is one of only four Universities in Germany to participate fully in the U.S. loan programme.

With Direct Loans, you can...

• borrow directly from the U.S. federal government.
• have online access to your Direct Loan Account Information 24/7 via your loan servicer.
• choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.

Eligibility requirements for federal student aid include:

• Financial need
• Being a U.S. citizen or an eligible noncitizen
• Orderly repayments of previous federal student loans
• Being in or accepted for one of the programmes below
• Maintaining adequate academic progress

Academic programmes included:

• Master of Finance
• Master in Management
• Master of Artificial Intelligence & Data Science - currently under review by the Department of Education
• Full-Time MBA
• Executive MBA
• Bachelor of Science
• PhD programme

All other programs offered at Frankfurt School (e.g. all other academic degree programs, non-degree programs, online courses etc.) are not eligible for Federal Student Aid.

Please note, Federal Aid approved progammes are only offered at the Frankfurt am Main campus.

Students from non-European countries may work up to 140 full days or 280 half days per year. More information is available here.

Frankfurt School of Finance & Management does not issue IRS Form 1098-T and does not maintain a U.S. Employer Identification Number (EIN) for this purpose. U.S. students (or parents of dependent students) seeking to determine their eligibility for U.S. education tax benefits should consult IRS guidance and/or a qualified tax advisor.

Frankfurt School’s Federal School Code is 040153 (you will need it to file your FAFSA - Free Application for Federal Student Aid).

You can check the status of your FAFSA anytime after submitting it online by going to FAFSA.gov and login in with your FSA ID or by contacting the Federal Student Aid Information Center.

• interest rate 6.52%, plus Direct Loan Origination Fee of 1.057%
• only Bachelor students are eligible for this type of loan
• need-based
• repayment is deferred until after your studies

• interest rate 8.07% for Master and 6.52% for Bachelor students, plus Direct Loan Origination Fee of 1.057%
• not based on financial need
• interest is charged during all periods, even during the time a student is in school and during grace and deferment periods

• interest rate 9.07% plus Direct Loan Origination Fee of 4.228%
• unsubsidized loans for parents of dependent undergraduate student
• PLUS loans help pay for education expenses up to 20,000 USD per dependent student
• interest is charged during all periods

• interest rate: fixed rate based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%
• There is no cap on the interest rate of a Direct Consolidation Loan.
• Eligible federal student loans can be combined into one Direct Consolidation Loan.

Estimated Cost of Attendance (COA):

The Cost of Attendance (COA) represents the estimated annual educational expenses used to determine a student's eligibility for U.S. Federal Direct Loans.

The COA is established by student category. Programs with identical tuition, fees, and living expense assumptions are grouped under a common budget. The budgets shown below represent the standard annual Cost of Attendance for a full-time student enrolled at Frankfurt School of Finance & Management.

All amounts are shown in U.S. Dollars (USD) and are based on the IRS annual average EUR/USD exchange rate for 2025 (1 EUR = 1.13 USD). The USD amounts are provided for budgeting purposes only.

Individual COA adjustments may be considered on a case-by-case basis for approved exchange or study abroad programs, documented higher educational expenses, or disability-related educational costs. Students requesting a COA adjustment must provide appropriate supporting documentation.

Please note: The actual amount of your Federal Direct Loan disbursement will be converted using the exchange rate in effect on the date of disbursement. In addition, the U.S. Department of Education deducts the applicable Direct Loan origination fee before funds are disbursed. As a result, the amount you receive may differ from the estimated USD amounts shown below.

Estimated Eligible Direct Loan Amounts:

The estimated loan amounts shown below are based on the annual borrowing limits established under the U.S. Federal Direct Loan Program.

Your actual annual loan eligibility may be lower than the maximum annual loan limit and depends on factors including:

• your academic level (undergraduate or graduate);
• your year in the academic program; and
• whether you are considered a dependent or independent student under U.S. Federal Student Aid regulations.

For more detailed information, please visit the Federal Student Aid website about Direct Loans: Subsidized and Unsubsidized Loans | Federal Student Aid

Download COA - all programmes 2026

Loan Disclosure Information

Frankfurt School does not provide private educational loans.

Frankfurt School does not provide private loans for borrowers.

Frankfurt School does not have a preferred lender list.

Frankfurt School does not direct borrowers to any particular lender or loan product, but rather provides comprehensive and unbiased information to empower borrowers to make sound and informed decisions.

USFA Default Prevention and Management Plan

How the Loans are Disbursed

Generally, your loan will cover a full academic year. The money will be delivered in two payments to you, at the beginning of each semester during the academic year. We will disburse your loan money by crediting it to your school account to pay (tuition and fees). If the loan disbursement amount exceeds your school charges, we will pay you the remaining balance of the disbursement directly to your German bank account. We will receive your money in Euro, so for all transactions the exchange rate $/€ from the day we have received your money will apply. We will notify you in writing each time we disburse part of your loan money and will provide information about how to cancel all or part of your disbursement if you find you no longer need the money. You will also receive a notice from the U.S. Department of Education confirming the disbursement. You should read and keep all correspondence received concerning your loan.

Before Disbursement

In order to be eligible to receive U.S. Student Loans at Frankfurt School, students have to fill out two different forms. The first form is an aid acceptance letter, stating how much the borrower wishes to receive from the amount they were approved, and the second is the U.S. Financial Aid Academic policy. Digital versions of our Satisfactory Academic Progress policy (SAP policy) and other policies for U.S. Financial Aid recipients are readily available here. Please note these policies only apply to current students receiving U.S. Financial Aid from Frankfurt School, and do not apply to other students.

US Financial Aid Acceptance Form

USFA SAP Policy

USFA Leave of Absence Policy

USFA R2T4 Policy

Using the Loan for Educational Expenses

You may use the loan money you receive only to pay for your education expenses. Education expenses include school charges such as tuition, room and board, fees and indirect expenses such as books, supplies, equipment, dependent child care expenses, transportation and rental or purchase of a personal computer.

Studying Abroad

Qualifying U.S. Students who might need aid to fund a study abroad semester may have opportunities to utilize their federal financial aid.

There are special regulations surrounding the length and location of your studies abroad depending on your program and program requirements. Therefore, if you plan to request Federal Student Aid, please discuss the matter with the Federal Aid Administrator as far in advance as possible.

To qualify for Federal Student Aid while abroad, a student must also fulfill the following requirements:

1. The student has submitted course information for review and the credits abroad have been approved in advance by Frankfurt School.
2. The student completes a Learning Agreement as documentation of the agreement between the student and Frankfurt School on the recognition of foreign coursework.
3. The student submits an official transcript from the host university at the commencement of the term abroad and completes an experience report which will be published internally at Frankfurt School.

Enrollment Status & Other Changes

It’s important to keep your FSA Student profile up to date to ensure the accuracy of your loan information. This is your responsibility. You must update your profile if you:

• change your local address, permanent address or telephone number,
• change your name (for example, maiden name to married name),
• do not enroll as a full-time student for the loan period certified by the school,
• do not enroll at the school that certified your loan,
• stop attending school,
• transfer from one school to another school or
• graduate.

Until you graduate or leave school, you must also keep Frankfurt School informed of these changes. A non-scheduled break in enrolment (e.g. vocational semester for a not-for-credit internship), is considered an interruption in your enrolment. When you graduate or withdraw from your academic program, you will receive a six-month grace period for your Direct Subsidized and Unsubsidized Loans. Once your grace period ends, you must begin repaying your loan(s). See "After Graduation".

Data Protection, Privacy and Consumer Rights

Students’ rights under the General Data Protection Regulation (GDPR) are outlined on Frankfurt Schools data privacy page. In order to process your loan application and comply with U.S. regulations, the Study Finance Office will request personal data from you. Frankfurt School will hold any sensitive data that you submit to us in compliance with the GDPR and U.S. federal regulations.

Safeguarding Consumer Information: German Federal Data Protection Act
FS Institutional Consumer Information: data protection
German General Provisions: Administrative Procedures

Institutional information

Academic Program Information - Bachelor
Academic Program Information - Master
Academic Program Information - MBA
Academic Program Information - PhD
Disability related services and facilities (Life & Health Counselling)

Misrepresentation

About the nature of the program, and fees, see the respective program website (linked above), about employability see our Career Services pages. For these areas Frankfurt School has procedures in place to avoid misrepresenting the nature of its programs, fees and employability.

Paying Interest while at Frankfurt School

You may choose to pay interest on your Direct Unsubsidized or Direct PLUS loans while you are in school. If you choose not to pay the interest while you're in school, the Department will add it to the unpaid principal amount of your loan. This is called "capitalisation," and it can substantially increase the amount you repay, especially if you are receiving multiple loans for a multi-year program. Capitalisation increases the unpaid principal balance of your loan, and the Department will then charge interest on the increased principal amount. It will save you some money in the long run if you pay the interest as it accrues on your loan while you're in school or during the grace period. This is also true if you pay any interest that accrues during periods of deferment or forbearance after you leave school.

Entrance Counseling

If you have not previously received a Direct Loan, the U.S. Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming. This counseling can be done online. Please click the links below and complete the appropriate entrance counseling.

If you are completing entrance counseling to borrow a loan as an undergraduate student, then the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans and Direct Unsubsidized Loans.

If you are completing entrance counseling to borrow a loan as a graduate or professional student, the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.

You can complete entrance counseling here.

Duration and Termination of the Frankfurt School Study Agreement

1. This Study Agreement is concluded subject to the following conditions applying to the entire period of study until completion of the Degree Programme. Either contracting Party may terminate this Agreement at the end of a given semester by giving six weeks’ notice prior to the end of the semester (31.01. / 31.08.). This study contract may be terminated by Frankfurt School of Finance & Management with six weeks' notice to the end of each semester if the student breaches his/her obligations under this contract, the regulations set out in § 1 and § 2 or the principles of the Honour Code.

2. In the event that the Student cancels their enrolment no less than six weeks before the start of the Degree Programme as stated in the Admission Letter (01.09. / 01.02.), only the enrolment fee specified in the Admission Letter will be due. In the event of a later termination, the Student’s undertaking to pay the tuition fee for the relevant semester remains in effect. The Student has the right to demonstrate that any termination-related damage to Frankfurt School of Finance & Management is either non-existent or less than the amount of the fee.

3. The right of the Student and Frankfurt School of Finance & Management to terminate the Agreement for good cause remains unaffected.

4. Notice of termination must be given in writing or transmitted electronically via a secure means of transmission, or else by electronic transmission of the notice of termination bearing a legally valid electronic signature.

5. The Agreement ends:

a) once the Student has successfully passed all examinations in accordance with the Academic Regulations for the Degree Programme;

b) once the Student has definitively failed an end-of-semester examination;

c) in the event of the loss of the entitlement to the examination as of the date on which the entitlement becomes final or legally binding.

d) in the event of extraordinary termination for good cause (see Section 6 Clause 6), upon receipt of the notice of termination;

e) in the event of termination pursuant to Section 6 Clause 2, upon receipt of the notice of termination.
 

6. In the event of extraordinary termination for good cause by Frankfurt School of Finance & Management, the tuition fee due for that semester will be paid in full to Frankfurt School of Finance & Management. In particular, good cause will be deemed to exist if the Student gives cause for such termination through their personal conduct, for example in the case of gross violations of the undertakings stipulated in Section 3. In the event of extraordinary termination by the Student for reasons for which they are not responsible, they will pay a tuition fee corresponding to the number of credit points obtained up to the date of termination as a proportion of the total number of credit points that they could otherwise have obtained over the semester as a whole. An examination certificate or other proof of qualification (e.g., number of credit points earned) will not be issued until the due amount of the tuition fee has been paid in full and the Student has returned all items belonging to Frankfurt School of Finance & Management in their possession. In the event of damages, the Student will pay compensation in accordance with the applicable law(s).

7. If, despite written reminders, the Student’s payment of the full tuition fee or at least 50%thereof should be more than 60 days in arrears, Frankfurt School of Finance & Management is entitled to terminate the Agreement for good cause (extraordinary notice).

8. With the termination of the Agreement, the Student’s enrolment at Frankfurt School of Finance & Management and their associated affiliation with the university automatically expires at the same time.

Withdrawing

Once you are no longer enroled, you'll receive a 6-month grace period on your Direct Subsidized and Unsubsidized Loans during which you are not required to make loan payments. You must begin repayment at the end of your grace period. If you have an in-school deferment on a Direct Subsidized or Unsubsidized Loan that entered repayment at an earlier date before you returned to school and you graduate or withdraw from school, you will be required to immediately begin making payments on the loan because the 6-month grace period has already been used up; there is no second grace period. Make sure that both Frankfurt School and your loan servicer know that you are no longer enroled. If you don't begin making payments when required, there is the possibility that you will lose repayment incentives you may have received or even go into default. 

Grace periods

When you graduate or withdraw from your academic programme, you will receive a six-month grace period for your Direct Subsidized and Unsubsidized Loans. Your grace period begins the day after you stop attending school. Once your grace period ends, you must begin repaying your loan(s). If you re-enroll in school at least half-time before the end of your 6-month grace period, you will receive the full 6-month grace period when you stop attending school. There is no grace period for Direct PLUS Loans—the repayment period for each Direct PLUS Loan you receive begins 60 days after we made the last disbursement of the loan. However, you can defer repayment while you're enrolled in school and (for Direct PLUS Loans first disbursed on or after July 1, 2008) for an additional 6 months after you graduate. Remember, if you choose to defer payment on a Direct PLUS Loan, any interest that accumulates during the deferment period will be added to the unpaid principal amount of your loan. This is called "capitalisation," and it increases your debt because you'll have to pay interest on this higher principal balance.

Exit Counseling

We are required to ensure that you receive Exit Counseling before you graduate or withdraw. Exit Counseling provides important information you need to prepare to repay your federal student loan(s).

If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program, you must complete exit counseling each time you:

• Drop below half-time enrolment
• Graduate
• Leave School

Please complete your Exit Counseling on the FSA Website.

Reservists Called to Active Duty

If you are called or ordered to active duty for more than 30 days from a reserve component of the U.S. Armed Forces, the period of your active duty service and the time necessary for you to re-enroll in school after your active duty ends are not counted as part of your grace period. However, the total period that is excluded from your grace period may not exceed three years. If the call or order to active duty occurs while you are in school and requires you to drop below half-time enrolment, the start of your grace period will be delayed until after the end of the excluded period. If the call or order to active duty occurs during your grace period, you will receive a full 6-month grace period at the end of the excluded period. If you are a reservist called to active duty with the U.S. Armed Forces for more than 30 days, contact the Direct Loan Servicing Center to let us know your status.

Choosing a Repayment Plan

You'll have the choice of several plans, and your loan servicer will notify you of the date your first payment is due. If you do not choose a repayment plan, the Department will place you on the Standard Repayment Plan. Most Direct Loan borrowers choose to stay with the Standard Repayment Plan, but there are other options for borrowers who may need more time to repay or who need to make lower payments at the beginning of the repayment period.

Consolidation

If you have multiple federal education loans, you can consolidate them into a single Direct Consolidation Loan. This may simplify repayment if you are currently making separate loan payments to different loan holders, as you'll only have one monthly payment to make. There may be tradeoffs, however, so you'll want to learn about the advantages and possible disadvantages of consolidation before you consolidate. To learn more, visit the Department‘s Direct Consolidation Loan website.

Repayment of your Federal Direct Loans generally begins six months after you graduate, leave school, or drop below half-time enrollment. Your federal loan servicer will notify you when your first payment is due.

For borrowers whose first Federal Direct Loan is disbursed on or after July 1, 2026, two repayment plans are available under current U.S. federal law:

The Repayment Assistance Plan (RAP) is the only income-driven repayment plan available to new borrowers. Monthly payments are based on your Adjusted Gross Income (AGI). Depending on your circumstances, any remaining eligible loan balance may be eligible for forgiveness after 30 years of qualifying repayment. Public Service Loan Forgiveness (PSLF), where applicable, remains available under this plan.

The Tiered Standard Repayment Plan provides fixed monthly payments over a repayment period of 10, 15, 20, or 25 years, depending on your total outstanding Direct Loan balance when repayment begins. Borrowers who do not select a repayment plan will automatically be placed in the Tiered Standard Repayment Plan.

Borrowers who only have Federal Direct Loans first disbursed before July 1, 2026, may remain eligible for certain legacy repayment plans, subject to U.S. Department of Education regulations.

You can review your repayment options, identify your federal loan servicer, and manage your loans by logging into your Federal Student Aid (FSA) account at:

https://studentaid.gov

Automated Payments (Electronic Debit)

Most federal loan servicers offer automatic debit (Auto Pay). Borrowers who enroll in automatic payments are generally eligible for a 0.25% interest rate reduction while automatic payments remain active.

Trouble Making Payments?

If you experience difficulty making your loan payments, contact your federal loan servicer as soon as possible. Depending on your circumstances, your servicer may be able to help you by:

• reviewing your repayment plan options;
• determining whether you qualify for deferment or forbearance, where available under current federal regulations; or
• discussing other repayment assistance options.

Ignoring missed payments may result in delinquency and, ultimately, loan default.

Consequences of Default

Defaulting on your Federal Direct Loans can have serious financial consequences, including:

• Immediate repayment of the entire outstanding loan balance ("acceleration");
• Reporting of the default to consumer reporting agencies (credit bureaus);
• Wage garnishment and Treasury Offset of eligible federal payments;
• Collection costs, attorney's fees, and court action;
• Loss of eligibility for additional federal student aid; and
• Other collection actions permitted under U.S. federal law.

Frankfurt School may also withhold official academic transcripts in accordance with its institutional policies until outstanding financial obligations to the institution have been resolved.

For additional information about repayment, repayment plans, deferment, forbearance, and loan management, please visit the Federal Student Aid website:

https://studentaid.gov/manage-loans/repayment

Frankfurt School accepts GI Bill® education benefits for eligible students. These benefits are provided by the U.S. Department of Veterans Affairs (VA) and can help cover tuition, fees, and other study-related costs.

The following programs are approved by the VA:

• Bachelor in Business Administration (BSc)
• Bachelor in Computational Business Analytics (BSc)
• Bachelor in Management, Philosophy & Economics (BSc)
• Master of Artificial Intelligence & Date Science (MSc)
• Master of Finance (MSc)
• Master in Management (MSc)
• Master in Real Estate (MSc)
• Master in Financial Technology (MSc)
• Master of Artificial Intelligence & Data Science (MSc)
• Part-time Master of Business Administration (MBA)
• Full-time Master of Business Administration (MBA)
• Executive Master of Business Administration (MBA)

Benefits are available to:

• U.S. military veterans
• Active-duty service members
• Eligible spouses and dependents

Eligibility depends on your service history and the specific GI Bill program you're applying under (e.g., Post-9/11 GI Bill). For full details, visit the VA education and training benefits page.

To use your GI Bill benefits with us, please follow these steps:

1. Apply for GI Bill benefits via the VA website.
2. After receiving your approval, submit your Certificate of Eligibility (COE) to us (contacts listed below) or reach out to us with the contact information of your VR&E counselor.
3. When your admission is confirmed, we will certify your enrollment with the U.S. Department of Veterans Affairs to activate your benefits.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at https://www.benefits.va.gov/gibill.